Bitcoin Maintains Stability, Indicating Potential Bullish Shift
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
- Price Range Stability: Bitcoin has maintained a narrow trading range between $85,000 and $90,000, reflecting a balance of power between buyers and sellers, indicating that no clear directional decision has been made yet.
- Diminished Selling Pressure: Although the negative turn of the Sharpe Ratio suggests weakened risk-adjusted returns, the limited selling activity from long-term holders, with only 221 BTC spent in the last 24 hours, indicates minimal new selling entering the market, potentially setting the stage for future price rebounds.
- Market Dominance: Bitcoin's dominance in the overall crypto market remains between 58% and 60%, with a total market value of approximately $3.03 trillion, demonstrating a preference among investors for Bitcoin, especially as ETF data highlights concentrated institutional interest in Bitcoin over altcoins.
- Bottom Signals Emerge: The MVRV-Z score hovers near historical bottom zones, indicating that the market value is excessively low relative to realized value, and with Bitcoin reserves on exchanges falling to around 2.5 million BTC, selling pressure may weaken further over time.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
